Impact Of Emerging Markets On Marketing : Rethinking Existing Perspectives And Practices

In order to create successful business, we need to evaluate on which market that is suitable for our business. In this paper, we are going to discuss about the advantages and disadvantages of doing business in emerging markets and developed countries, From there, we can decide whether to expand our business in more promising markets.

There has been a tremendous amount of change in the global markets in the past few years. This has predominantly due to the fact that there is a shift in the consumer mindset, consumption patterns, changes in demography and organizational attitude brought through by advancement in technology. This has led to a change in marketing strategies and practices across the world. Marketing thinkers and companies are prompted to frequently re-think their strategies and adopt new theoretical and practical approach to address specific marketing changes and also to think beyond the scope of traditional marketing theories (Constantinides, E, 2006). A majority of the changes were influenced by the

Hoyer, W. D., MacInnis, D. J., & Pieters, R. (2012). Consumer Behavior, 6e, 6th Edition.

During the changing of world economy, it is increasingly common to hear the term ‘emerging markets’ and from news and report. In the mid-1980s, the term ‘emerging markets’ was created by the World Bank, and has significant influence on the global business world nowadays (Gwynne, Klak and Shaw 2003). To raise investor’s attention to those developing countries, there are numerous characteristics springing up which are given by researches and economists. However, some of those characteristics are contradictory and it is difficult to give a real definition. This essay discusses the main characteristics of ‘emerging markets’ as defined by the World Bank and economists.

Today’s Global economy is governed by a delicate balance of variables. The addition of a new economy to the global market affects all of the pre-existing variables, bringing with it a host challenges and opportunities. Much like an initial public offering, countries may “buy -in” or develop economic agreements with the emerging market economy (EME). This often results in the country “buying-in” to the emerging economy, getting services or products at a discounted rate, while the emerging economy gets business like China and the United States. These types of agreement may result in the poorer country sacrificing its citizens’ well being, to ramp up for economic growth, like China. In the end most countries economies are interconnected for example with the United States-Canada relationship. If one country’s economy were to collapse there would be strongly adverse effects on the

The document discusses the rapid growth in middle class consumers. Multinationals Companies are producing products and services that serve the market and culture it is in. There are several approaches in capturing consumers; the two critical are speed and scale. There are still many challenges due to localization meaning consumers are middle call by region only. The document discusses the need for looking at individual categories and whether consumers’ needs and wants are based on global or local.

Over the last decade China and India have adopted trends from western-styles. These are two heavily populated countries and their youth are gravitate more to western styles. There are many goods and services that can be offered to their marketers. This paper will describe the products that interest these youth markets. Compare and contrast the micro- and macro-environmental forces that influence the marketing strategies for these goods and services. Analyze the marketing strategies of these two countries and compare them with the U.S. consumption marketers. And finally, what opportunity for U.S. companies I might foresee.

Nations, like the people who inhabit them, are all different. Some, like the United States, are at the forefront of technology and development. Others exist as third world nations, where even the most basic necessities are hard to come by. And then there are those which are in the middle, such as India. In the past 20 years, India has grown in the eyes of the global community from a rural, developing nation to a burgeoning global marketing hub. While India had much guidance from the United States and other global powers, the country has still chosen to follow its own path of business and marketing development. This paper is designed

The importance of international marketing increased in the last years in a context in which market saturation and competition broke out within different branches. The analysis of foreign markets became more important for enterprises, because of the increasing internationalization of the business activity. While at the beginning of the internationalization, standardization and differentiation just considered domestic markets, today market segmentation is taken on global extent because of intensified individualisation of behaviour 's demand of the consumers. It can happen, that consumers of different countries due to increased mobility, assimilation of demographic structure and better communication and information technologies, show more

BRICS (Brazil, Russia, India, China and South Africa) and CIVETS (Columbia, Indonesia, Vietnam, Egypt, Turkey, and South Africa) are all examples of some of the emerging markets in the world. BRICS are the world’s largest emerging markets and CIVETS are the second largest emerging markets in the world. Emerging markets are also known as; emerging economies or developing countries. An emerging market is a term used to describe a country that is still developing. It is not yet developed but it is neither underdeveloped, it is in between. These countries have some characteristics that would classify them as developed, but they also have characteristics that would classify them as underdeveloped (not to be confused with ‘undeveloped’).

As the name states, it is a measure of the market potential of a country using several dimensions, ratings, indexes and percentages. Currently, emerging economies comprise more than half of the world's population, account for a large share of world output and have very high growth rates, which mean an enormous market potential. With global marketing becoming more important, companies and marketers are attempting to determine which international markets they would like to penetrate and the appropriate marketing strategy.

In emerging markets around the world, according to McKinsey & Company proprietary research pr global, and multinational retailers are watching the mass markets of Brazil, China, and India. This is primarily because consumers in this countries have greater disposable income and are beginning to more money on items beyond the basic necessities.” (How half the world shops:, McKinsey & Company, 2007).,

Emerging market economies: a subset of former developing economies that have achieved substantial industrialization, modernization, improved living

As we can see in Figure 1, the share of emerging markets in global output has increased from below 20% in the early 90’s, to more than 30% today. Considering the cost of living differences, the share of emerging economies in world GDP already exceeds 45%, which is 13 percentage points higher than in the early 90’s. According to the International Monetary Fund’s (IMF), World Economic Outlook, this share will exceed 50% in 2013.

Emerging markets are considered as the main driver for global economy since Financial Crisis 2008 because emerging markets remained robust as economic growth held mostly steady. Developed economies, on the other hand, were struggling with the consequences of financial crisis (PwC, 2014). However, developing countries’ overall expansion is predicted to fall by 3.8% according to Credit Suisse Group’s latest report (Kennedy, 2015). This is due to government in emerging countries such as China and India, failure to reform markets and building stronger institutions. In turn, increased the volatility and uncertainty in their economies’ condition and resulted in damaging investment and future productive capacity (PwC, 2015).